FSI stands for Floor Space Index.
It is the ratio of permissible built-up area to the land size. For example, if
the total plot area is 1000 sq ft and if FSI granted is 2, then one can
construct total for 1000*2 = 2000 sq. ft. of floor space in total. If your
developer is constructing more than this, then either it’s illegal or he needs
special permission from authorities.
The maximum a developer can
construct over and above the permissible FSI is 35% of the flat area. This
additional area that the buyer has purchased is also legal. This additional
space that the buyer has purchased is called Fungible FSI.
Under the new DCR (Development
Control Regulations), areas for balcony, flower beds, terraces, voids, niches
would be counted in the FSI. To compensate for this loss in FSI the government
has allowed compensatory fungible FSI of upto 35% for Residential developments
and 20% for Industrial & Commercial developments. This can be used either
for carpet area or for balcony etc. This
fungible FSI will be available at 60%, 80% and 100% of ready reckoner rates for
residential, commercial and industrial developments respectively.
So whenever you go to their site
office and ask for the details, insist that they talk in terms of carpet area.
Price quoted on carpet area is more genuine as the developer cannot dupe you
then.
When has the new DCR rules come into force?
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After how many years the redevelopment agreement becomes null and void if
ReplyDeletebuilders do not start the project. The commencement and completion date not in the redevelopment agreement signed by the society
After how many years the redevelopment agreement became null and void by law if the redeveloped do.not start the project . The redevelopment agreement signed without the date answer of commencement and completion..
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What is the validity of MOU with the Developer??Can it be renewed further if applicable
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